Data recording devices which include sensors, are widely deployed in several industries, such as automotive industry, stock market industry, electrical industry, and electro-mechanical industry. Such devices typically record data pertaining to an activity or an operation at uniform intervals of time. For example, in stock markets in financial sectors, the data recording device may be deployed for recording the value of a stock through the course of a day. Data recorded by such data recording devices is generally represented in the form of a time series. A time series may be understood as a sequence of values measured typically at successive points in time spaced at uniform time intervals. Further, the data may be subjected to several data analytics techniques for analysis and diagnostic purposes.